New airline routes begin to crowd Myanmar’s sky

YANGON — Asian airlines are looking to expand to Myanmar, eyeing not just business passengers but also the rising middle class there, who are beginning to travel for pleasure. Budget carrier HK Express on Sept. 1 kicked off a direct Hong Kong-to-Yangon route that flies four times a week. Other carriers, such as Myanmar National Airlines, already provide such […]

NLD set to review ‘new city’ project

Within days of coming into office, Yangon Region’s new National League for Democracy-led government has started to flex its muscles over the proposed Southwest New City project. The regional administration has asked developers involved in the project to submitted detailed plans, while the NLD-dominated parliament has warned that it will be reviewed before it is […]

Residents demand pay for new Yangon bridge

Sampan operators and homeowners who have been asked to make way for a new bridge that will link downtown Yangon to a huge new development to the southwest of the city are demanding hundreds of millions of kyat in compensation. The groundbreaking ceremony for the controversial Southwest New City is scheduled for March 27, with construction to follow as fast […]

Myanmar-Japan joint venture applies for airline licence

Myanmar’s already cluttered airline industry could be about to welcome another carrier into its ranks. Japan’s ANA Holdings and Shwe Than Lwin-owned Golden Sky World have formed a joint venture and applied to set up an international airline, according to a transport ministry official. The joint venture submitted a “late application” to the outgoing government, […]

Shwe Rural and Urban Development Bank opens head office

Shwe Rural and Urban Development Bank opened its head office in Yangon yesterday. The lender plans to set up 25 branches over the next five years, but will conduct most of its operations through a network of countryside-based agents. The privately owned bank – headquartered on the corner of Pansodan Road and Merchant Street – […]

Shares Outstanding as Public Bus Company Nears Launch

Burma’s first public bus company, which is expected to launch routes in Rangoon late this month, has so far raised 3.8 billion kyats (US$2.9 million) in a sale of shares to fund the first phase of the transportation service, according to an official. The project will introduce a Bus Rapid Transit (BRT) system to Rangoon, […]

YCDC to take over management of two industrial zones

Yangon City Development Committee will soon take over management of the last two privately owned industrial zones in Yangon as the Ministry of Construction moves to transfer power to the local authority. The ministry’s Department of Urban and Housing Development (DUHD) has been transferring oversight of Yangon’s 28 industrial zones to YCDC since 2012. The […]

Telecom licence awardees announced

The Ministry of Communications and Information Technology has granted communication licences to three telecom companies, according to Than Tun Aung, director-general of the telecommunications directorate. Those licence awardees are KDDI, E-Lite and Yatanarpon Teleport companies. A total of 50 local and foreign companies have applied to the directorate of telecommunications for communication-related services such as […]

MP asks to clarify profit sharing of Sky Net and Information Ministry

The Union Assembly MP Khaing Maung Yi asked the Ministry of Information to clarify the profit sharing between the ministry and the Shwe Than Lwin (STL Media)/Sky Net to the parliament and the tax that should be owned by the state. Khaing Maung Yi said “I would like to discuss about the Ministry of Information. […]

Banking – another business step of Shwe Than Lwin

The business empire under Shwe Than Lwin has proposed to open a financial institution, Shwe Rural and Urban Development Bank. In the application for commercial and investment banking license, Shwe Than Lwin said the initial investment capital would be Ks 10 billion, partly financed by the profit earnings from the sale Sky Net TV signal […]